29 October 2013 20:10 [Source: ICIS news]
HOUSTON (ICIS)--Contract and distributor prices for US butyl acetate (butac) inched up on Tuesday, as September price increases by US producers appears to have found buyers in the market.
Both categories saw 3 cent/lb ($66/tonne, €48/tonne) increases, according to ICIS analysis.
Butac contract prices rose from a range of 84.00-87.00 cents/lb to 87.00-90.00 cents/lb. Distributor prices rose from 86.00-90 cents/lb to 89.00-93.00 cents/lb.
Spot butac prices remained unchanged for the week.
Sources in recent weeks confirmed that 3-cent September price increases have found traction in the market. There was no indication this week on whether October butac increases had found any takers.
As of 29 October, no butac spot deals were reported in the market. No production problems were heard.
There had been a standoff of sorts between butac producers and buyers. Buyers had been hesitant to accept price increases, arguing that propylene prices have declined over the last several weeks. Producers, however, have argued that demand for butac has remained strong.
It appears that buyers have accepted increases for September, but continuing falling propylene prices may hinder October increases from gaining ground.
Major producers of butyl acetate are Oxea, Dow Chemical and Eastman Chemical.
($1 = €0.72)
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